- Significant year-over-year sales growth at Earth Innovations Inc.
- Addition of new distribution channels for 2019
Vancouver, British Columbia--(Newsfile Corp. - January 28, 2019) - International Zeolite Corp. (TSXV: IZ) (OTCQB: IZCFF) (FSE: ZEON) (the "Company") an international marketer and supplier of natural zeolite and zeolite products, is pleased to provide investors an update on the Company's Earth Innovations Inc.(EII) increased sales for the first half of the current fiscal year.
Results for the first half of fiscal 2019 indicate wholesale revenues from EII's flagship products, ecoTraction™ and ecoTractionPRO™, in excess of $468,000 for the six-month period ending December 31, 2018. This represents an increase of 40% over the pre-acquisition sales of Earth Innovations from the same period in 2017. In addition, and despite a decidedly warmer start to the winter season in eastern Canada and the USA this year, EII is on track to meet or exceed last year's sales for the current quarter (January to March 2019).
In December 2017, International Zeolite completed the acquisition of Earth Innovations Inc. to help the Company establish and grow a consumer and commercial platform of zeolite and zeolite-based products. The Company began reporting the consolidated revenue associated with the acquisition in October to December 2017 period (Q2 Fiscal 2018) and as such, this is the first time the Company has incorporated full first half revenues from Earth Innovations. Earth Innovations further expects to add several new retail and commercial distributors for the 2019 and the 2019/20 seasons for both its ecoTraction™ and Smell Grabber product lines.
"While Management is pleased with the overall EII growth in sales in the first half of the fiscal year", stated Ray Paquette CEO, "we will continue to focus on increasing sales through establishing more distribution channels, marketing strategies, improved logistics and increasing warehousing capacity in Eastern Canada."
On Behalf of the Board
President & CEO
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. International Zeolite does not assume the obligation to update any forward-looking statement.
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